"Also, choosing Bill Hess, the former chairman of the Alberta Securities Commission, to head CDNX, helped to establish investor trust in the new exchange. Hess, a securities lawyer by trade, built a reputation as a strong regulator. 'Hess' background gives people confidence. They feel they are getting a fair shake in what they are investing in,' says Fred Ketchen, managing director of equity trading at Scotia Mcleod and former Toronto Stock Exchange chief.
Jim Sorensen says board members also view Hess as a reliable and worthy person to head the new exchange. 'Bill came out with the best requirements and he was unanimously voted in,' he says."